Blueprint Finance emerges from stealth with $7.5M in funding. Blueprint’s flagship product is the Concrete Protocol, an appchain purpose built for on-chain debt and credit.
Concrete powers higher yields, liquidation protection, and advanced predictions across all of DeFi, starting with money markets.
The financing was led “by Hashed and Tribe Capital, with participation from SALT, Hypersphere, Lightshift, Awesome People Ventures, Veris Ventures, WWVentures, Avalanche Foundation, Kronos Research, Terra Nova, and Hyperithm.”
Blueprint’s Pre-Seed round was led “by Portal Ventures, with participation from Picks & Shovels and Canonical Crypto.”
Blueprint Finance was founded during “the collapse of FTX in 2022, where the team observed the resilience of on-chain systems, and the need for more robust and capital-efficient DeFi markets.”
The implosion of centralized lenders “created an opportunity for massive volume growth for on-chain money markets.”
However, there is a complete void in solutions and liquidity for DeFi users “to protect positions when leveraged against volatile assets, resulting in asset liquidation.”
Concrete is the foundational infrastructure that “can be used across leading money markets to solve the problem of liquidations and foster the next phase of DeFi growth.”
The Concrete Protocol allows users “to minimize the need for idle capital on hand by protecting leveraged positions against collateral depreciation.”
Concrete then offers attractive yield opportunities “for liquidity providers to fund these protective tranches of capital for positions in need.”
Using a series of quantitative methodologies, Concrete calculates the probability of collateral depreciation over time and creates “a fully automated protection agreement to fund a position as it approaches liquidation thresholds.”
Nic Roberts-Huntley, Co-Founder & CEO of Blueprint Finance, said:
“This financing is a significant milestone for us as a company. With Concrete, we are in a position to solve the most pervasive issues in crypto and build the foundational layer for on-chain credit. DeFi is approaching a major inflection point, and lending activity will massively increase. We support existing activity and importantly unlock brand new markets in DeFi.”
Blueprint’s team is led by “an experienced team of quantitative developers, public/private market investors, researchers, and crypto native protocol engineers from Point72, Morgan Stanley, Galaxy Digital, Caxton, Tala, Polkadot, Eco, and more.”
Baek Kim, General Partner at Hashed, said they believe Concrete will be a driving force in creating confidence in the on-chain financial system. Kim added that the team brings a wealth of experience in both crypto and compliant financial services.